OGX said a detailed re-analysis of reservoir characterisation at Tubarao Azul had concluded that there was little scope for achieving a viable production curve using affordable technologies, meaning the three wells currently producing may actually cease operations in 2014.
The news slashed another 30% from the OGX stock price on the Sao Paulo stock exchange in one day, as the business empire assembled by mining tycoon Eike Batista began rocking to its foundations.
The
